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Hybrid or Electric Cars: Which Will Save You More?

Hybrid or Electric Cars: Which Will Save You More?

By now you’re probably very familiar with the environmental benefits of green cars like hybrids or electric vehicles. These modern cars use advanced technology–like regenerative braking, electric motor drive/assist, and automatic start/shut-offto drastically reduce energy consumption, which translates into better fuel economy and less pollution.

Sounds great, right? So why are most of us still driving around boring old gas guzzlers with combustion engines. One big reason is price. Hybrid cars are just now starting to achieve price parity with gas-powered vehicles, and electric cars will still set you back a few thousand dollars more than their conventional counterparts. For those working with slim budgets, this can be a major turnoff.

What’s hard for many of us to visualize is the total cost of ownership, that is how much a vehicle will cost us over the course of a decade. We get so caught up in initial sticker price that we fail to realize major savings is lurking just a few years in the future.

For instance, did you know that buying a plug-in electric vehicle could net you up to $7,500 in tax credits? Or that insurance companies routinely provide discounted rates to policy holders who own a hybrid or electric vehicle? Scroll through the infographic below for more surprising stats about which cars are really cheaper to own.

Hybrid, Electric or Gas: What type of car is cheaper to insure? [Infographic]

From: Bankrate Insurance’s insuranceQuotes.com

Read more: Conscious Consumer, Green, Technology, , , , , , , , ,

Image via Thinkstock

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Beth Buczynski

Beth is a freelance writer and editor living in the Rocky Mountain West. So far, Beth has lived in or near three major U.S. mountain ranges, and is passionate about protecting the important ecosystems they represent. Follow Beth on Twitter as @ecosphericblog or check out her blog.

77 comments

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12:42AM PDT on Oct 15, 2014

Thank you!

10:12AM PDT on Jul 16, 2014

Dear men and women on Care2, So, I finally did some things -- partly because of
care2 articles, my research, word of mouth from other people who have hybrids, that lead to my decisions.
HERE IS MY HYBRID STORY
I tried a bicycle and found it good for going some places and for the summer time -- due some temporary physical challenges -- so I would like to save to get a quad-cycle for local commuting, and for fun!
I tried the local bus and that was a very nice bus in Fort Collins- Loveland, Colorado.
Combine the bus with bicycle and people go places -- though not the 300 miles per day -- that would be for the rental of a hybrid.

Either way a person can choose to win.

I found a toyota prius hybrid for 3,000 us dollars and some one else got it while i was waiting to get my money and strength tot go get the hybrid.

Then ! I found a toyota prius for 4,000 us dollars, and money was there, from trying for the previous vehicle, and I drove 230 miles or so to get to it, bought a part of it with the money the bank let me take out that day. Drove 230 miles back, rested up on the 4th of july weekend, and drove a low cost rental one way to the dealer,
finished the purchase on the 6th of July and drove away with the hybrid -- after checking out how the items in the vehicle work.

Thrilled -- Happy 4th. Next rest enough to get the repairs done, and the inspection, and the registration. Plus I out of state.

Let's hope this thing will pay for itself and more. Usual

7:46AM PDT on Jun 17, 2014

I drive the Nissan Leaf and LOVE LOVE LOVE the car! And stop saying it's expensive!!! It is NOT EXPENSIVE when you consider the very low maintenance and very low cost of energy to drive it. I live in NY and it cost me between $15 to $30 a month in energy cost to drive! And $24/month to insure (at Insurance Panda)! I drive about 10,000 miles/year. We need a new generation of people who are open minded to change to embrace the electric car! People ... we need to get off oil for soooo many reasons. Environment, Middle East and believe it or not .... Electric cars drive much better! We need to move forward!

11:08AM PST on Dec 26, 2013

good comparison information

1:39AM PST on Dec 19, 2013

very convincing and good information. I have a car that is 18 years old and running good-- however I take transit also and only drive less than 15 miles a week.

4:13PM PST on Dec 17, 2013

If you wait ten years those fancy cars will be for sale on Craigs list for ten percent of what they were new.

1:38AM PST on Dec 16, 2013

My bikes save me lots of $$$$...

1:26PM PST on Dec 15, 2013

ty

1:05PM PST on Dec 15, 2013

Thanks

9:48AM PST on Dec 15, 2013

Thanks

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Disclaimer: The views expressed above are solely those of the author and may not reflect those of
Care2, Inc., its employees or advertisers.

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